Loaded-Up Fund charges a 12b-1 fee of 1% and maintains an expense ratio of 0.80%. Economy Fund charges a front-end load of 2%, but has no 12b-1 fee and has an expense ratio of 0.20%. Assume the rate of return on both funds' portfolios (before any fees) is 9% per
vear.
Required: a. How much will an investment of $100 in each fund grow to after 1 year?